You can use the macros to check that a shock to the import propensity in the South Country has the same effects as
in the previous model REG.

Note that there is a misprint in the book. The label for figure 6.11 on page 201 states that the chart refers to "an increase
in the South propensity to consume out of current income", but as the text on page 200 states, and as the macro shows, the charts
refers to a decrease in the propensity to consume, or an increase in the propensity to save out of income.

Model OPENG

In model OPENG a change in gold reserves held by the Central bank triggers a fiscal policy response.

Note that there is a misprint in the labels in figure 6.12 in the book, on page 204. The label for the trade balance
is close to the government balance dotted line, and the label for government balance is closed to the dashed line of the
trade balance. Prove it yourself with the Eviews macro.

Model OPENM

In model OPENM a change in gold reserves held by the Central bank affects interest rates, while government expenditure
in both countries is again discretionary as in model OPEN.
In the book, appendix 6.2, the equations for model OPENM should have the percent change in gold reserves
as a determinant of interest rates, rather than the absolute change in gold reserves.

Model OPENM3

Model OPENM3 modifies model OPENM to allow interest rates to affect the propensity to consume out of current income.
In the book, appendix 6.2, the equations for model OPENM3 should have the percent change in gold reserves
as a determinant of interest rates, rather than the absolute change in gold reserves.
The interest rate in equations 6.O.35 and 6.O.37 has been lagged one period to reduce the degree of simultaneity of the model.